Potomac Bancshares in W.Va. to rebrand its bank
Bank of Charles Town in West Virginia is rebranding. Potomac Bancshares, the holding company, said in a press release that the bank will change its name to Potomac Bank on Nov. 3. The new name reflects the bank's growth and expanding regional presence. The new brand is designed to reflect the diverse communities that the bank serves. “While our name is evolving, our iconic tree logo endures as a symbol
Equity in Kansas to enter Nebraska with Frontier acquisition
Equity Bancshares in Wichita, Kan., has agreed to buy Frontier Holdings in Omaha, Neb. The $6.4 billion-asset Equity said in a press release that it will pay $122.8 million in cash and stock for the parent of the $1.4 billion-asset Frontier Bank. The deal, which is expected to close in the fourth quarter, priced Frontier at 123% of its tangible book value. Separately, Equity said it sold about $358.8 million
Land of Lincoln Credit Union to buy Williamsville State Bank in Illinois
Land of Lincoln Credit Union in Decatur, Ill., has agreed to buy Williamsville State Bank and Trust in Illinois. The $475 million-asset credit union said in a press release that it will pay cash for the $97 million-asset bank. The price wasn't disclosed. The deal is expected to close in the first half of next year. Williamsville has three branches. “The acquisition is part of Land of Lincoln’s strategic growth
Washington bank shortens name
Pacific Crest Savings Bank in Lynnwood, Wash., has abbreviated its name. The bank said in a press release that it has rebranded as Pacific Crest Bank. The new name "allows us to better represent who we are today, while staying true to the values and relationships that have defined us for years," Sheryl Nilson, the bank's CEO, said in the release. "This new identity gives us the flexibility to expand
Old National-backed de novo gets conditional FDIC approval
Organizers of a proposed de novo bank in Indianapolis are one step closer to opening. The Federal Deposit Insurance Corp. gave conditional approval to the group behind Generations Community Bank. The group must raise $24 million in initial capital before the proposed minority depository institution can open. Generations would also be a community development financial institution. Old National Bancorp in Evansville, Ind., is playing a leading role in the effort,
Group looks to open de novo bank in central Florida
A group in Florida is looking to open a bank. Organizers of the proposed Portrait Bank in Winter Park applied to the Federal Deposit Insurance Corp. on Aug. 27. The filing wasn't immediately available. A group called E&J Focus in Winter Park submitted a trademark application for Portrait Bank. E&J's managers, based on corporation filings, are Erik Weiner and Jessica Tiscareno. Weiner was the central Florida market president for City National
Battle Financial received Fed BCH approval
The organizers of the proposed Battle Financial in Edwards, Colo., have received approval from the Federal Reserve to become a bank holding company. The approval allows the group to complete its pending purchase of Stearns Bank Upsala in Upsala, Minn. Stearns Financial first disclosed plans to sell the $65 million-asset bank in March. The price wasn't disclosed. Stearns would be rebranded as Battle Bank. “It’s been a long road of
Commercial Bancgroup in Tennessee plans initial public offering
Commercial Bancgroup in Harrogate, Tenn., is planning an initial public offering. The $2.3 billion-asset company plans to raise $173 million, according to published reports. Net proceeds would be largely used to repay debt tied to the Community Trust Loan Agreement and to redeem outstanding subordinated debentures and trust preferred securities. Hovde Group is the sole bookrunner on the deal.